Friday, Mar 29 2024 | Time 18:38 Hrs(IST)
image
Business Economy


PFC appoints NHPC as aggregator for power procurement Pilot Scheme-II

New Delhi, Mar 12 (UNI) India's premier hydro power utility National Hydroelectric Power Corporation (NHPC) was appointed as the aggregator, under the Pilot Scheme-II.
The hydro power utility scheme will procure aggregated power of 2500 MW for three years (covered under medium term) through nodal agency PFC Consultancy Limited (PFCCL).
Balraj Joshi, CMD, NHPC, said the scheme facilitates procurement of aggregated power from the generating companies with already commissioned coal-based power plants, but not having a power purchase agreement (PPAs).
A tender was floated by PFCCL for the appointment of aggregator under the scheme on February 21, in which NHPC participated and was declared a successful bidder, after which it was issued a Letter of Award (LOA).

Under the Pilot Scheme – II, the aggregator will sign an agreement for procurement of power with the successful bidder(s) and back-to-back power supply agreement with distribution licensee(s)/utilities.

The scheme shall involve transaction of electricity of around 18615 MUs at 85 per cent PLF of 2500 MW and turnover of more than of around Rs 7,000 crore on yearly basis.
The NHPC shall receive trading margin from distribution licensee(s) under Pilot Scheme-II for providing services of aggregator between generator & buyer as trader.

Mr Joshi also shared some of the major achievements of NHPC like Cabinet Committee of Economic Affairs (CCEA)'s nod for acquisition of Lanco's Teesta VI HE Project, investment sanction for construction of Kiru HE Project (624 MW) by M/s Chenab Valley Power Projects Private Limited (M/s CVPPPL), signing of MoU with Jammu & Kashmir State Power Development Department (JKPDD) and J&K State Power Development Corporation (JKSPDC), for execution of 850 MW Ratle Hydroelectric Project (Jammu & Kashmir).
UNI SDR RJ 1912
More News
India's core sector output rises to three-month high of 6 7 pc in February

India's core sector output rises to three-month high of 6 7 pc in February

28 Mar 2024 | 7:51 PM

New Delhi, Mar 28 (UNI) Driven primarily by coal, cement and crude oil production, India's core sector comprising of eight key infrastructure components grew 6.7% year-on-year in February 2024, as per data released by Ministry of Commerce and Industry on Thursday.

see more..

Honda Motorcycle & Scooter India achieves historic 6 cr domestic sales milestone

28 Mar 2024 | 7:19 PM

Mumbai, Mar 28 (UNI) Honda Motorcycle & Scooter India (HMSI) announced on Thursday that it has accomplished a historic achievement of 6 crore domestic sales in India. Honda ventured into the Indian market with its first two-wheeler, the Activa, in 2001.

see more..

28 Mar 2024 | 5:28 PM

UNI NK AKS.

see more..
Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

Luminous enters solar panel mfg; 250 MW facility launched with initial investment of Rs 120 cr

28 Mar 2024 | 5:16 PM

Rudrapur, Mar 28 (UNI) From power Back-up solutions to Batteries and Solar applications, Luminous Power Technologies on Thursday announced the launch of its state-of-the-art solar panel manufacturing facility here.

see more..

Kottayam-Kochi Rubber Market rates

28 Mar 2024 | 5:04 PM

Kottayam, Mar 28 (UNI) Following were the Rubber Market rates announced by the Rubber Board here on Thursday per quintal.

see more..
image